Mr. Allan Folk reports

BONTERRA RESOURCES ANNOUNCES CLOSING OF $5.3 MILLION FLOW-THROUGH PRIVATE PLACEMENT

Bonterra Resources Inc. has closed the previously announced private placement for gross proceeds of $5,292,898.50.

Pursuant to the offering, Bonterra issued (a) 1,307,066 flow-through common shares of the company at a price of $2.25 per FT share for gross proceeds of $2,940,898.50; and (b) 980,000 Quebec flow-through common shares of the company at a price of $2.40 per Quebec FT share for gross proceeds of $2,352,000.

Sprott Capital Partners LP acted as lead agent on behalf of a syndicate of agents which included PI Financial Corp. and Red Cloud Securities. In connection with the offering, the agents received a cash fee in an amount equal to 6 per cent of the gross proceeds of the offering.

The gross proceeds from the issuance of the FT shares and Quebec FT shares will be used for Canadian exploration expenses and will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada). The Quebec FT shares will also qualify for the two 10-per-cent enhancements under Section 726.4.9 and Section 726.4.17.1 of the Taxation Act (Quebec).

The FT shares and Quebec FT shares will be subject to a hold period of four months and one day from the date of issue in accordance with applicable securities laws. The offering is subject to final approval of the TSX Venture Exchange.

We seek Safe Harbor.